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Anti money laundering, Arrotino (SKS365) at AML EXPO: “The operators of public gaming are the first guardians of legality against criminal infiltrations”

George Miller

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Anti money laundering, Arrotino (SKS365) at AML EXPO: “The operators of public gaming are the first guardians of legality against criminal infiltrations”
Reading Time: 3 minutes

 

Attending the Expo also Prof. Razzante, President of the Italian Association of Anti Money Laundering Managers and VP of SKS365 supervisory body: “Gaming attracts criminality just as public procurements, housing and garbage management, but the prejudice on its ‘morality’ hurts the system.”

A second appointment for AML EXPO – this time in Milan – where specialists and Gaming professionals have gathered to refer on the state of the art of the sector, its technological achievements (both digital and normative), against money laundering, issue at the center of the debate organized by White List Warranty and Acuris Risk Intelligence.

After attending last May in Rome, Antonio Arrotino, AML Manager and MLRO of SKS365, has rekindled the issues concerning the risks of organized crime infiltrations in the gaming sector, underlining how operators must aim at a conjunct and shared operations in order to reduce the vulnerability of the system.

Organized crime looks at the gaming sector as a profitable opportunity and for this reason tries to unduly enter the segment by methods that range from extortion to the creation of actual parallel networks, from the alteration of slot machines to the manipulation of sport events (match fixing) – stated Arrotino, which is also Responsible for the games segment at the Italian Association of Anti Money Laundering ManagersMoreover, if we also add individual offences (frauds, theft of sensible data, etc..) and understand that this is a billion Euro “market”, precisely 105 in 2018, the extension of this risk is under the eyes of all.

If users and, in general, consumers are the first victims – often unaware – of these mechanisms, the legal industry is strongly exposed and damaged not only economically, but also in the image and perception of security. The latest advances in technology and regulation, combined with a renewed awareness that is becoming increasingly present in the sector, put in each operator’s hand a valuable opportunity to become the first guardian of legality. Here, the key words are: prevention, collaboration and control.

We need cohesion among all actors involved. We need to share the same commitment against illegality, not just as a simple daily routine but as an ethical mission and responsibility at all levels: inside and outside companies, on and offline, towards customers and alongside the institutions – continued ArrotinoAnti-money laundering facilities are valid as control and protection systems, but behind these devices are people: specialists, officials and experienced professionals. The first step is to fill the gray areas, defend the boundaries of legality and make common front against an enemy now increasingly prepared and – therefore – extremely dangerous.

The numbers presented go precisely in the direction expressed by Arrotino: “The SOS, or Reports of Suspicious Operations (‘Segnalazioni di Operazioni Sospette’ in Italian), are very useful to start financial and, if necessary, investigative actions. In 2017, 2,600 SOSs were filed to the UIF – “Financial Information Unit” (‘Unità Informazioni Finanziarie’) and forwarded by gaming service providers. By comparison, there were 5,067 in 2018 and just in the first half of 2019 we are at over 3,000 (out of a total of 51,201 sent by all the obliged parties). This does not mean that crime has increased, it means that attention has indeed increased, and this bodes well for the year about to end.

The system of money laundering prevention and related financing of Italian terrorism is among the best in the world and its authorities are among the most attentive and consulted, especially from European counterparts – quoted Ranieri Razzante, President of the Italian Association of Anti Money Laundering Managers, Professor of anti money laundering Legislation at the University of Bologna and VP of the supervisory body at SKS365, one among the AML EXPO speakers – the history of organized crime infiltrations in the gaming market must be kept out of the rhetoric that necessarily sees the complicity of sector operators with respect to the phenomenon. I can guarantee – adds RazzanteThat the studies done so far and the results of concrete investigations give us an obvious fact: the gaming sector attracts organized crime as much as procurement, construction, waste disposal and many others. In this sense, anti-mafia controls planned in Italy are indeed penetrating, but it’s the prejudice about the ‘morality’ and structural stability of this market that really hurts the system. Lastly, it should not be forgotten that the gaming sector is one of the main Italian tax payer entities and that it has state-of-the-art internal control mechanisms, so that in the last year alone, reports of suspicious transactions received by the FIU have doubled compared to 2018, exceeding by far those of the entire sector of the freelancers. For years – concludes Prof. RazzanteI’ve been supporting the urgency of creating a regulatory review that will finally lead to the drafting of a ‘single normative text on games’, since the legislative framework on this delicate subject is still too cumbersome.

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Industry News

Melco Resorts Issues Response to Money Laundering Warning

Niji Narayan

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Melco Resorts Issues Response to Money Laundering Warning
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Melco Resorts & Entertainment, a developer, owner, and operator of casino gaming and entertainment casino resorts in Cyprus, has issued a response to money laundering warnings from Moneyval, the European Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism.

The warning had alleged that Cyprus could become a money-laundering destination after a visit from its representatives to a Melco owned venue in Cyprus.

The venue, namely Cyprus Casinos, also known as C2, is a gaming and entertainment brand and subsidiary of Melco Resorts & Entertainment.

Melco Resorts & Entertainment responded that it welcomed “a strong and compliant regulatory framework” and was operating with regulation authorities in the Eastern Mediterranean country “to implement all AML regulations” and was “dedicated to industry-leading and best practice AML/CTF procedures in all our operations”.

The brand owns and operates a number of casinos, all with the same name, and a report emerged from Moneyval following a visit to C2’s Limassol establishment.

The committee, which is an ‘independent monitoring mechanism within the Council of Europe, answerable directly to the Committee of Ministers’, said that the systems for preventing money laundering showed ‘weaknesses’ and stated that the establishment was:

“Currently operating at or beyond the limits of its AML/CTF compliance and risk management system.”

It also stated that the employees within the casino:

“Appear to not fully appreciate the quantitative magnitude of those risks when attached to operations of the casino’s current size – much less its anticipated future size.”

Reportedly, Moneyval suggested that in light of the findings, Casinos Cyprus should be blocked from expanding its gambling activities until it can demonstrate such effectiveness.

 

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Industry News

Global Gaming Market Forecast to Show Positive Growth During 2020-2024

George Miller

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Global Gaming Market Forecast to Show Positive Growth During 2020-2024
Reading Time: 3 minutes

 

The “Global Gambling Market: Size, Trends & Forecasts (2020-2024)” report has been added to ResearchAndMarkets.com’s offering.

The gaming industry is a term interchangeably used for the gambling industry. The term Gambling is more preferred by companies operating within the gambling market. As for them, it sounds sort of more legal to be known as a Gambling company instead of a gambling company. Gambling is defined as any game or activity in which a particular player risks his/her money in the expectation of winning more money.

The global gambling market can be segmented on the basis of product type and platform type. The market can be bifurcated into casinos, lotteries, gaming machines and betting on the basis of product type. On the basis of platform type, the market can be sub-segmented into land-based and online categories.

The global gambling market is forecasted to showcase positive growth through the forecast period (2020-2024). The market growth is estimated to supported by various growth drivers such as increasing spending capability, legalization of gambling in countries such as the US, rising penetration of smart devices, hike in internet penetration, an overall increase in global population especially within those lying in between the ages of 20-64 years.

The market is also confronted by some challenges such as the negative perceptions surrounding the gambling market and lack of internet connectivity in developing countries. The emergence of bitcoins, a growing number of mergers and acquisitions (M&A), the use of augmented reality to enhance gambling experience and cloud gaming are some of the major trends existing in the market.

The ‘Global Gambling Market: Size, Trends & Forecasts (2020-2024)’ report provides an in-depth analysis of the global gambling market followed by an analysis of its segments in terms of value. The report also consists of an analysis of the gambling market by value in regions such as the Americas and Europe. The gambling markets of Italy, the UK and France have been analyzed under the European region. Under the competitive landscape, different players in the gambling market have been compared on the basis of revenue generated and market capitalization.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global gambling market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

Key Topics Covered:

1. Executive Summary

2. Introduction
2.1 Gambling Industry: An Overview
2.2 Regulations on Gambling: An Overview
2.3 Gambling Market Segments

3. Global Market Sizing
3.1 Global Gambling Market: An Analysis
3.2 Global Gambling Market: Product Type Analysis
3.3 Global Gambling Market: Platform Type Analysis

3.4 Global Gambling Market: Regional Analysis
3.4.1 Global Gambling Market by Region (America, Europe and Rest of the World)

4. Regional Analysis
4.1 America Gambling Market: An Analysis
4.2 America Gambling Market: Product Type Analysis
4.3 America Gambling Market: Platform Type Analysis
4.4 Europe Gambling Market: An Analysis
4.5 Italy Gambling Market: An Analysis
4.6 UK Gambling Market: An Analysis
4.7 France Gambling Market: An Analysis

5. Market Dynamics
5.1 Growth Drivers
5.2 Challenges
5.3 Market Trends

6. Competitive Landscape
6.1 Global Gambling Market Players by Financial Comparison

7. Company Profiles

  • Flutter Entertainment (Paddy Power Betfair Plc)
  • International Games Technology Plc.
  • Scientific Games Corporation
  • The Stars Group

For more information about this report visit https://www.researchandmarkets.com/r/874bkd

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Industry News

FDJ Revenues Rise in 2019

Niji Narayan

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FDJ Revenues Rise in 2019
Reading Time: < 1 minute

 

Française des Jeux (FDJ), the national lottery operator in France, witnessed a 9 per cent year-on-year increase in revenues, as its proceeds reached €1.96 billion in 2019, according to its full financial statement. Total wagers increased 9 per cent to €17.2 billion and EBITDA hiked 9 per cent to €346 million. However, the Net profit saw a 22 per cent decreased compared to last year.

FDJ Chairwoman and CEO Stéphane Pallez, said: “2019 will be remembered as a landmark year for Française des Jeux with the great success of its initial public offering to numerous institutional investors, individual shareholders, and Group employees. 2019 was also characterised by very strong growth in all our businesses, across all sales channels, both physical and digital, and the Group’s excellent operating and financial performances.

The financial statement has its projections for 2020: the French operator forecasts a revenue rise of 5 per cent and 5 per cent increase in stakes. EBITDA margin is expected to be maintained above the 20 per cent mark. These increases are projected due to a busy 2020 with the UEFA Euro 2020 and a new Euromillions format.

 

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